Cvfg LLC bought a new position in shares of HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,470 shares of the mining company’s stock, valued at approximately $762,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its position in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares during the period. Quarry LP acquired a new stake in shares of HudBay Minerals during the third quarter worth $38,000. IFP Advisors Inc acquired a new position in HudBay Minerals in the 3rd quarter valued at $45,000. Banque Cantonale Vaudoise increased its stake in HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp raised its position in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after buying an additional 3,733 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Monday. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Finally, Barclays initiated coverage on shares of HudBay Minerals in a research report on Thursday, May 21st. They set an “overweight” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.33.
HudBay Minerals Price Performance
HBM stock opened at $20.61 on Thursday. The firm has a 50 day moving average of $25.54 and a 200-day moving average of $23.96. HudBay Minerals Inc has a 12-month low of $8.93 and a 12-month high of $32.15. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.25 and a beta of 1.48.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue was up 27.3% compared to the same quarter last year. As a group, equities analysts expect that HudBay Minerals Inc will post 1.63 EPS for the current fiscal year.
HudBay Minerals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s payout ratio is presently 1.81%.
About HudBay Minerals
HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.
The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.
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